This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apple Gets Goldman Boost

Shope noted that this year's 9 million figure is "perfectly comparable to last year's first weekend sales of 5 million units," as Apple uses the same sales recognition policy it always has. However, this year the company launched new phones in 11 countries, vs. nine last year, and China was included in the initial launch. Last year, China didn't get the iPhone 5 until December.

"All of these factors were known before the device launch, however, so the 9 million unit shipments should be largely comparable to the StreetAccount consensus expectation of 6.4 million units," Shope wrote. "In addition, the lack of a preorder period for the 5s likely countered some of the tailwinds from the additional launch countries this year. Overall, we believe the first weekend sales figure was a significant positive surprise for the Apple story."

With regard to the breakdown of the 9 million units, Shope notes there's "no hard data to determine the exact breakdown," but notes that the iPhone 5s appears to have sold out on its first day. He noted there's no way to measure how many 5s units were sold, but believes the initial supply of 5s units was larger than that of iPhone 5 units last year. As such, he believes Apple is recognizing 4 million to 5 million units of 5s sales, and 4 million to 5 million units of 5c sales in the first weekend.

"In addition, the first weekend sales figure does not include online sales of the iPhone 5s that were not shipped to customers over the weekend, and as such, a substantial portion of initial 5s demand will still be recognized in December quarter results."

Shares of Apple were higher in pre-market trading, up 0.8% to $494.59.

-- Written by Chris Ciaccia in New York

>Contact by Email.

2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,084.33 -88.35 -0.51%
S&P 500 1,985.76 -8.53 -0.43%
NASDAQ 4,512.8590 -14.83 -0.33%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs